Paul Murphy (Dublin South West, Solidarity) | Oireachtas source

There is a logical incoherence in the Minister for Finance's argument about the need for a delay in getting rid of this allowance, or whatever one wants to call it. The argument is that we need tax certainty, but there was no such need for tax certainty when it was introduced to the benefit of these vulture funds. The Government was able to introduce it immediately, but now that it is being withdrawn it seems that a certain amount of time must be provided in the interests of having an environment of tax certainty. The Government and the Dáil are entitled to change legislation. We are not talking about a retrospective measure here. We have a right to change the tax code. There seems to be a suggestion that the Government should be blackmailed because it has, in effect, promised these funds that they will not pay tax. If the Government does not recognise that as a problem, that is fine. It does not want to admit that the problem was evident a year ago. The idea that they will still be able to benefit for reasons of tax certainty, even though it has been recognised that this is a problem, is a bit ridiculous.